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Topshop Faces Collapse As Owner Arcadia On The Brink Of Administration

The Arcadia retail empire, which includes Dorothy Perkins, Burton and Topshop faces, imminent collapse, according to recent reports.

The Arcadia group had been seeking extra cash to help it recover the gap from lost sales during the pandemic.

However, senior sources at the company have informed reporters that they do not expect a last-minute rescue deal, which makes administration the most likely option, as this will give the business protection from its creditors. 

Inquesta has previously highlighted the significance from an insolvency point …

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‘DAY OF RECKONING’ LOOMS FOR CHANCELLOR’S SPENDING SPLURGE

Following Rishi Sunak’s Spending Review and warning of ‘economic emergency’, we spoke to our very own Steven Mason, insolvency practitioner and senior manager at Inquesta, for his expert comment.

On the announcement Steven said: “Rishi Sunak made no effort to downplay the difficulties facing the country in his Spending Review.  

“Setting out his position, the chancellor solemnly spoke of the country’s ‘economic emergency’.

“Most concerning to business owners was the acknowledgement that this crisis has only just begun, as news of Britain’s …

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High Street Coffee Chain Caffé Nero on The Brink of Closing Following Second Lockdown

Caffè Nero is the latest high street chain to be forced to restructure its business after profits took a further hit because of the second lockdown.

The chain, which has 660 branches across the UK, has launched a Company Voluntary Arrangement (CVA) to restructure its business to avoid future closures and potential job losses.

A CVA is a legal procedure that allows companies to continue trading whilst allowing a percentage of their debts to be paid back gradually over time.

The process involves …

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Dilemma for Landlords as Yields Fall Across The Country

Almost one in three UK landlords are planning to sell their properties as yields fall and changing lifestyles have forced people out of cities, according to a recent report.

The buy-to-let situation has become a two-sided story, with some landlords having a tough time selling whilst others plan to increase their portfolio before the chancellor’s stamp duty holiday ends on March 31 next year.

So, who are the winners and losers in of this year’s property market changes?

The sellers

According to the National …

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Chancellor Rishi Sunak Considers Middle Class Tax to Tackle Rising Pandemic Debt

A recent report by Chancellor Rishi Sunak found that £14bn could be raised by increasing capital gains tax rates to bring them into line with income tax.

This move is expected to help pay back the billions of pounds borrowed by the government to support the economy during the COVID-19 pandemic.

The government report was accompanied with a warning by Mr Sunak who claimed that “difficult decisions” would need to be taken in the weeks ahead.

Capital gains tax (CGT) is applied to …

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